Deloitte Insights: A Path to Global Nourishment
Overview
Transitioning to sustainable food systems could lift 300 million people out of undernourishment and meet the nutritional needs of 1.6 billion more by 2070. Deloitte's report, Turning Point: Feeding the World Sustainably, highlights the economic and social benefits of transforming global food production to address climate change and food security.
Source: Deloitte
The Urgency of Transformation
As the global population approaches 10 billion by 2070, the need for sustainable food systems becomes critical. Current agricultural practices are unsustainable, leading to significant environmental degradation and resource depletion. Deloitte's report, released during COP29, emphasizes that without intervention, climate change could cost the global economy $190 trillion by 2070 due to declines in agriculture and productivity.
Economic and Social Benefits
Transforming the global food system could yield substantial economic gains. Deloitte's modeling predicts that sustainable practices could increase global GDP by $121 trillion and reduce food prices by 16% by 2070. This transformation would not only support an additional 300 million undernourished people but also provide enough calories to meet the needs of 1.6 billion more.
Addressing Undernourishment
Currently, 730 million people are undernourished, representing nearly 10% of the global population. Sustainable food systems could make healthier diets more accessible, particularly in regions most affected by hunger. Redirecting one in five of the extra calories produced to these regions could significantly reduce undernourishment.
System-Level Solutions
Deloitte's report identifies five key solutions to transform the global food system sustainably:
Enhancing Circularity: Implementing practices that recycle and reuse resources within the food system to reduce waste and improve efficiency.
Reducing Emissions: Adopting technologies and practices that lower greenhouse gas emissions from food production.
Accelerating Innovation: Investing in research and development to create new, sustainable agricultural technologies.
Improving Production: Enhancing agricultural productivity through sustainable practices that increase yield without harming the environment.
Policy Evolution: Developing and enforcing policies that support sustainable food production and consumption.
The Cost of Inaction
The report warns of the severe consequences of failing to act on climate change. Unchecked climate change could lead to a $190 trillion economic loss by 2070, driven by agricultural decline, reduced labor productivity, and damage to capital and land. The value of primary food production industries could fall by $13 trillion, with significant impacts on food manufacturing and services.
A Call to Action
Jennifer Steinmann, Deloitte Global Sustainability Business leader, underscores the importance of immediate action: "COP29 is a pivotal moment for global leaders to come together to weigh the significant costs of inaction on climate change, which could have tremendous impacts for both human well-being and the global economy". Investing in sustainable food systems is essential to lifting millions out of malnourishment, conserving resources, and mitigating climate change.
Feeding the world sustainably by 2070 is a monumental task that requires immediate and transformative action. By implementing system-level solutions, we can ensure food security, promote economic growth, and protect our planet for future generations.
Read the full report here:
https://www.deloitte.com/global/en/issues/climate/feeding-the-world-sustainably.html
